Bank of Japan offers to buy government debt from the market
- To buy 200bn yen in 1 – 3 year JGBs
- To buy 300bn yen in 3 – 5 year JGBs
- To buy 200bn yen in JGBs of 10+years
This is the 9th time this month (so far) that the BOJ has bought JGBs in the market. In April the BOJ announced their ‘Qualitative and Quantitative Easing’ package, which in part, involved huge purchases of JGBs, so its hardly surprising that they’re in the market so often.
This is a net negative for yen (though there are plenty of other factors at work).